In comparison to last week economics events we should expect for the week ahead some pretty decent action. Although there are no major central bank meeting this week except BOJ Monetary Policy and Interest rates decision we have other data like the CPI which are measuring the inflation and have a threshold target from central bank forward guidance.

Here are the main risk events for this week that you should pay attention:

  • Japan Economic Data:
Right from beginning of the week we have Japan's GDP. Japanese economy is expected to grow faster and market expectation is very high for this reading with 0.2% increase from preview reading. Any miss in the numbers should be negative.

Previous:0.5%
Consensus:0.7%

Tuesday we have a major event risk as we have BOJ monetary policy statement and Interest rates decision. Last week Prime Minister Abe said:"Expects BOJ to take appropriate policy decision taking into account risks to economy and prices" also making the case to cut Japan's corporate tax rate which will help "boost the global competitiveness of Japanese companies and make the country more attractive to foreign investment". This should add some volatility to the market for sure. Also Friday we have BoJ Monetary Policy Meeting Minutes but don't expect BOJ to be easing further unless the economy turns sharply lower.

  • Australia Economic Data
Tuesday we have RBA Meeting's Minutes We should expect more verbal intervention to talk down the aussie but this can be a a double-edged sword for RBA because just talking without any major action can't work forever, market participants will acknowledge this and ,maybe we can see aussie actually raising further. RBA must back their talking with some action otherwise the market can work against them and force them to take some action sooner or later.

  • UK Economic Data
Tuesday we have the CPI numbers, we already know that UK inflation hits BOE target last month, first time in 4 years at 2%. Both unemployment rate which has approached the 7% threshold and the Inflation which hit the 2% target confirms a solid growth going forward and we should expect BOE to be more flexible in his forward guidance.

Wednesday we have BOE Minutes and the unemployment rate which is expected to hold at 7.1% only 0.1% shy away from the BOE target of 7% but it has a positive outlook as UK economy is set to grow faster than any other developed economies.

  • US Economic Data
Wednesday we have Building Permits with a slightly negative forecast at 0.98M, 0.01M less than previous reading of 0.99M. We have also the PPI numbers which are about to increase to 0.6% from 0.4% and later in the day we have a high event risk FOMC Meeting Minutes. And Friday we have the CPI numbers which are about to remain on hold at 1.5%.

Best Regards,
Daytrader21.
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